Good Morning Traders! AUDNZD has completed a beautiful Gartley pattern on the 4H chart. The PRZ is tight, with confluence between AB=CD, .786XA and 1.13BC extension. The weekly pivot is precisely confluent with the .382CD retracement and provides a great target. It is smart to put stops beyond XA on these patterns. Happy Trading!
This pair has been trending down on the daily chart as shown by the D1 EMA/SMA's. Strong bearish impulse down shows weakness in the supporting trendline. This setup will capitalize on a breakout down into the completion of a bullish Gartley pattern.
The pair has shown rejection at the Daily EMA cluster which will protect a SL above this level. It has also already tested its average daily range and may retest the trendline. TP at retest or AB=CD with SL above the EMA cluster.
USDJPY may potentially produce a reverse head and shoulders pattern at the base of two descending channels. Two weekly pivots sit above price and are confluent with important fib levels. If price does not met entry, the trade will be cancelled and I may start to consider short opportunities. If SL is hit, there may be a wolfe wave complete just beyond the base...
Hey Traders! It's been awhile since I've shared an idea, I've been working on automating my trading strategy! AUDUSD is approaching a critical level presenting us with an opportunity to enter a 2-3 week short with a nice R/R. The pattern that caught my eye is the bearish 5-0 which I've had success with in the past for 4H-1D charts. In addition to this, we have...
Bullish bat complete at point E of a triangle continuation. Entry is placed at point E of triangle with SL below point C (invalidation level). Two targets can be taken, one at the weekly pivot which is confluent with .5CD and another at the top of the triangle thrust around 3.75.
On the daily time frame, price has been rejected at the PRZ of two larger harmonic bullish patterns (Bat + Gartley). The rejection was swift with a 5 wave bullish impulse, followed by a triangle correction and another small impulse to complete a 3 wave pattern (labeled here as (A) of a possible zig-zag correction). Now we are nearing the completion of a bullish...
MITK has completed a bullish bat in a with a PRZ that is confluent with support from the 100 day exponential moving average. To add to bullish bias, 2 missed weekly pivots sit above price. Entry is placed at the bottom of the PRZ with target at the missed weekly pivot from 12/14.
Confluence in the PRZ:
Bullish bat
2AB=CD
2.272BC Projection
EMA100...
USDCAD is nearing the completion of a bearish Gartley pattern. The PRZ falls inside of a significant S/R zone, adding to the probability of a reversal at those levels. With a potential upcoming rebound in oil this could provide a nice entry for a larger bearish move toward the missed pivots sitting below price (see related ideas). This would of course depend on...
CADJPY has entered the PRZ of a series of bullish harmonic patterns in an area of strong support. The PRZ, which is formed by the combined reversal zones of a bullish bat and crab, may also be tested near the .5 Fibonacci speed fan line for an added level of time-based support. On a larger TF, a bullish AB=CD pattern is complete in the center of the PRZ. There...
Happy New Year, traders! Here is a trade to consider after the holiday. USDCAD has completed 2 bullish harmonic patterns at week-long trendline support. The PRZ falls in a S/R zone and the new weekly pivot for 1/3/2016 coincides with the 50% retracement of the CD leg, making this a nice level at which to take profit. To add to bullish bias, RSI has printed...
USDJPY has completed a bullish cypher on the 1 hour chart with a PRZ that is confluent with S/R. A missed weekly pivot, EMA200 and SMA200 sit above price to add to bullish bias. Entry is placed at the base of the PRZ with SL at 1.13XA and target at .382CD.
Confluence in the PRZ:
.786XA (cypher completion)
1.5AB=CD
1.272BC Projection
Unhit weekly pivot...
As I stated on 12/20, it was pretty much impossible for BTC to not sink further and significantly. Though it did have a short rebound for X-mas that was destined to be short lived. BTC is only down 7.25% since I made my prediction but with what the 3 hour through 2 week indicators show is trouble. The shorter 4 and 6 hour indicators show a reversal underway...
ACRX is nearing the completion of a bullish bat pattern on the daily chart. The PRZ falls in a significant support zone and may be confluent with support from a 3-month trendline. 3 Missed weekly pivots sit above price to add to the bullish bias. Entry is placed at the bottom of the PRZ with target at .618CD and SL below the 1.13XA fib level.
Confluence in the...
EURUSD is nearing the PRZ of a bearish bat in a significant area of S/R. MACD is also printing divergence in addition to RSI being overbought. A missed weekly pivot sits below price and is confluent with a larger .5 retracement. Entry is placed at the bottom of the PRZ with a SL above 1.13XA and targets at .618CD and the missed weekly pivot.
Confluence in the...
Yesterday I published a EURUSD short on a bearish bat pattern. The bat has hit TP1 and is retesting the PRZ. If you missed the trade, this is a great opportunity to enter. A rare opportunity has presented itself where 3 bat patterns have aligned within a very tight reversal zone. The PRZ aligns with trendine touching the X points which may add resistance in...
